Two years ago, as I drove east after visiting Yellowstone National Park, I stopped in a small town for a quick meal. The small restaurant I entered was quiet, with just a few locals scattered among the tables. Their weary expressions matched the town’s faded storefronts and vacant lots — a haunting reminder of the economic struggles gripping so many of America’s small towns. The once-vibrant main street was eerily empty, with “For Sale” and “Closed” signs hanging in the windows of abandoned shops. It was hard to ignore how the population had seemingly dwindled, leaving behind only echoes of what must have once been a thriving community.
This isn’t just one town’s story — it’s a reality echoed across rural America. According to recent reports, nearly 40% of rural counties in the U.S. lost population between 2010 and 2020, with many small towns seeing their young residents leave for opportunities in urban centers. Main streets that once hummed with activity are now shadows of their former selves, and the struggle to create new businesses and jobs is evident everywhere. The U.S. Department of Agriculture notes that the share of total jobs in rural areas has been declining for decades, with small businesses — once the lifeblood of these communities — closing at alarming rates. The economic and social challenges are undeniable.
It was a stark contrast to the bustling energy I’ve seen in places like Guangdong, China, where small and medium enterprises (SMEs) thrive despite limited government support and fierce competition. Entrepreneurs there drive local economies with grit and innovation, creating jobs and producing goods for global markets. What if America could harness that same entrepreneurial spirit to breathe new life into its struggling small towns?
This question inspired the RISE Visa — Revitalization and Innovation for Small Enterprises Visa. It’s a bold, dynamic approach to attracting foreign entrepreneurs who can invest in America’s rural areas and high-unemployment regions, creating jobs and revitalizing communities. It offers a pathway to turn quiet streets into thriving centers of opportunity, helping small-town America rise again.
What Is the RISE Visa?
The RISE Visa (Revitalization and Innovation for Small Enterprises Visa) is a proposed non-immigrant visa designed specifically for foreign entrepreneurs who wish to establish businesses in underserved U.S. regions. This visa caters to foreign investors — particularly from Asia — who are looking to create economic opportunities in the U.S. without the intention of permanently immigrating. By offering a flexible pathway to invest and operate businesses, the RISE Visa provides a mutually beneficial solution for both entrepreneurs and struggling American communities.
How the RISE Visa Would Work
Investment Requirement: Applicants must invest at least $500,000 in a business located in an officially designated rural or high-unemployment area. While the business must operate in these regions, the visa allows flexibility for families, who are not required to reside in the same area.
Job Creation: Each business must create at least five full-time jobs for U.S. workers, documented through W-2 forms.
Entrepreneurial Background: Applicants need to demonstrate they are experienced and successful entrepreneurs. They must provide a detailed business plan outlining their proposed U.S. venture to ensure economic viability.
Visa Terms: The RISE Visa is issued for one year and can be renewed annually, provided the business meets the investment and job creation criteria. A one-year probationary period is allowed if the business temporarily falls short of the employment threshold. If the business cannot recover within that period, the visa will be canceled.
Family Benefits: Entrepreneurs’ families, including children under the age of 21, can live in the U.S., with children having access to local schools and spouses eligible for work authorization. This makes the RISE Visa especially attractive for those seeking educational opportunities for their children while focusing on growing their businesses.
Exclusions: As a non-immigrant visa, the RISE Visa does not lead to permanent residency or a green card. Its focus is solely on economic contribution and entrepreneurial activity.
Why the RISE Visa Is Ideal for Foreign Entrepreneurs
The RISE Visa offers a unique and tailored solution for foreign entrepreneurs who want to expand their global business presence while giving their families the opportunity to live and access top-tier educational opportunities in the United States. Unlike the EB-5 visa, which requires an investment of $800,000 or more under USCIS regulations and puts funds at significant risk, the RISE Visa focuses on direct investment into underserved U.S. communities without leading to permanent residency or U.S. citizenship.
This key distinction makes the RISE Visa particularly appealing to many foreign investors, especially those from Asia, who prioritize their children’s upbringing and education in the U.S. without the intention of permanently immigrating. With the RISE Visa, entrepreneurs can operate businesses in rural or high-unemployment areas, contribute to job creation, and benefit from a flexible, non-immigrant visa that aligns with their specific goals.
The RISE Visa’s emphasis on direct investment ensures that the funds go straight into revitalizing struggling communities and creating jobs, providing measurable benefits for local economies. At the same time, it allows investors to maintain their focus on their businesses while enjoying the temporary residency benefits that support their family’s educational and lifestyle aspirations.
When the time comes — whether their children have grown up or completed their education — investors have the flexibility to sell their businesses and return to their home countries, having fulfilled their personal and entrepreneurial objectives. This practical, business-focused approach makes the RISE Visa a standout option for those seeking a temporary, goal-oriented way to contribute economically to the U.S. while securing valuable opportunities for their families.
The RISE Visa bridges the gap between entrepreneurship and flexibility, offering a practical alternative for foreign investors who want to achieve their goals without the long-term commitment or risks associated with other visa categories like the EB-5 program. It’s a visionary, win-win framework for investors and American communities alike.
Why America Needs the RISE Visa
Addressing Gaps in Existing Immigration Policies
America’s current visa categories fall short of addressing the specific needs of foreign entrepreneurs who could drive economic revitalization in underserved U.S. regions. Each program has significant limitations:
H-1B Visa: This visa focuses on highly skilled workers in fields like technology and medicine but does not directly promote job creation for others. While H-1B holders contribute their expertise, they often work for large corporations, leaving small towns and rural areas without meaningful economic benefits.
L-1 Visa: Restricted to executives and managers transferring within multinational corporations, the L-1 visa excludes independent entrepreneurs or small business owners, who are often better positioned to establish and grow local enterprises.
EB-5 Visa: The EB-5 program requires a minimum investment of $800,000 in high-unemployment areas or $1,050,000 in other regions. This high threshold, combined with lengthy and complex approval processes, makes it inaccessible to many capable entrepreneurs. Additionally, EB-5 funds are often pooled into large-scale projects like luxury developments, which do little to benefit rural areas or inner cities directly.
E-2 Visa: While somewhat similar to the RISE Visa, the E-2 lacks critical requirements such as job creation or proof of entrepreneurial experience. It also has no minimum investment requirement, making it less focused on substantial economic contributions. Furthermore, the E-2 visa is only available to citizens of treaty countries, excluding many potential investors.
Why the RISE Visa Is Different and Necessary
The RISE Visa fills these gaps by targeting foreign entrepreneurs who can create measurable economic value in rural areas and high-unemployment regions. Unlike the existing visa programs, the RISE Visa is purpose-built to:
Revitalize Underserved Communities: According to the U.S. Census Bureau, nearly 40% of rural counties lost population between 2010 and 2020, leaving behind decaying main streets and empty storefronts. Small towns and inner cities are struggling to attract businesses, with local job creation rates trailing national averages. A 2021 report by the Economic Innovation Group found that more than 52 million Americans live in "distressed communities" with limited access to jobs and economic opportunities. The RISE Visa directly addresses this by incentivizing entrepreneurs to invest in these areas, creating jobs and injecting life into struggling economies.
Promote Direct Job Creation: Unlike the H-1B and L-1 visas, the RISE Visa mandates that each business create at least five full-time jobs for U.S. workers. By requiring proof through W-2 forms, the program ensures tangible benefits for local communities.
Attract Experienced Entrepreneurs: The RISE Visa requires applicants to demonstrate prior entrepreneurial success and submit a detailed business plan, ensuring that only qualified investors participate. This safeguards against misuse and focuses the program on those with the skills to drive economic growth.
Lower Barriers to Entry: With a minimum investment of $500,000, the RISE Visa provides a more accessible option compared to the EB-5 program. This lower threshold is ideal for small and medium enterprises (SMEs), which are often the backbone of local economies. SMEs account for nearly 44% of U.S. economic activity and are well-suited to thrive in rural and high-unemployment areas.
Focus on Underserved Regions: Unlike the E-2 Visa, the RISE Visa ensures that investments target rural or high-unemployment areas where they are most needed, ensuring that resources and jobs flow to the communities that would benefit the most.
The U.S. needs a visa program that directly addresses the economic decline in rural areas and inner cities while providing opportunities for entrepreneurs to contribute meaningfully. The RISE Visa represents a strategic shift toward harnessing the entrepreneurial spirit of foreign investors to create jobs, revitalize local economies, and breathe new life into struggling communities. By filling gaps in existing immigration policies, the RISE Visa offers a practical solution to one of America’s most pressing challenges: ensuring economic growth in areas that have been left behind.
A Path Toward a Stronger, More Resilient America
As I’ve driven through America’s rural towns, seeing the empty storefronts and abandoned main streets, I can’t help but think about the missed opportunities. These communities, filled with hardworking people and a rich history, deserve better. They deserve real solutions — not temporary band-aids — to bring back the energy and pride that once defined them.
I believe the RISE Visa is one such solution. Imagine if small or mid-size manufacturing and processing companies in Asia or other regions, currently exporting vast quantities of products to the U.S., could instead establish operations right here, in America’s depressed areas. These businesses are straightforward to start, create jobs, and offer a direct path to revitalization. It’s not just about producing goods — it’s about breathing life back into communities that have been left behind.
The beauty of this idea is that it addresses multiple challenges at once. By manufacturing civilian goods locally, we not only reduce the trade deficit but also transform small towns into vibrant centers of production and opportunity. It’s a win-win — a way to strengthen local economies while fostering global connections through foreign investment.
Sadly, no current policy or program truly addresses this need. The RISE Visa fills that gap by offering a clear, practical framework to bring in the entrepreneurs who can make it happen. These aren’t people looking for handouts — they’re bringing capital, jobs, and innovation to communities that need them most.
When I think about this vision, it feels personal. It’s about more than just numbers or policies; it’s about real people — families who want better lives for their kids, small towns eager to reclaim their place as economic hubs, and entrepreneurs who are ready to contribute and succeed. This isn’t just a theory. It’s a tangible way forward. A chance to turn quiet streets into bustling centers of activity and give struggling towns a new lease on life. I believe in this vision, and I believe the RISE Visa can help make it a reality. Together, we can take this bold step and create a stronger, more resilient America — one small town at a time. (Vincent Sun, Chicago-Based International Entrepreneur and AFAI Research Fellow)
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